Australian dollar

Aussie is pressing a key trend barrier after rebounding from support, with next week’s CPI report poised to test the recovery.

Aussie momentum has deteriorated sharply into quarter-end, with inflation, Core PCE and NFP on tap as AUD/USD closes in on a pivotal technical threshold.

Recent trading sessions have reflected a more neutral tone around the Australian dollar. This can be seen in AUD/USD price action, which has posted moves of roughly 0.2% over the last two sessions without establishing a clear direction. Much of this lack of momentum is linked to expectations surrounding the next policy moves from both the Reserve Bank of Australia (RBA) and the Federal Reserve.

AUD/USD remains under pressure after breaking key trend support, with the latest decline putting the focus on the next major downside pivot.

Aussie has reversed sharply from the September highs, with weakening momentum raising the stakes at support ahead of tomorrow’s Fed decision.

AUD/USD reversed sharply off key resistance last week, with bulls now attempting to stabilize the multi-month advance ahead of key U.S. jobs data.

Aussie has advanced in eight of the past nine weeks, but the next technical hurdle could determine whether bulls can sustain the broader advance.

Aussie momentum has surged to seven-month highs, but the advance is approaching a major resistance zone where exhaustion risk is rising.

The rally has extended more than 3.8% from the June low with the bulls now facing the pivotal resistance. Battle lines drawn on the AUD/USD charts.

AUD/USD has spent three weeks trapped beneath resistance, with the next decisive move likely to shape the August outlook.

AUD/USD is poised for a fourth weekly advance with the bulls now testing at a major technical barrier that could determine the next phase in trend.

AUD/USD is trading into pivotal resistance at the upper bounds of a multi-month downtrend. Aussie battle lines drawn.